A minutiae-based template is a very compact representation of a fingerprint image, and for a long time, it has been assumed that it did not contain enough information to allow the reconstruction of the original fingerprint. This work proposes a novel approach to reconstruct fingerprint images from standard templates and investigates to what extent the reconstructed images are similar to the original ones (that is, those the templates were extracted from). The efficacy of the reconstruction technique has been assessed by estimating the success chances of a masquerade attack against nine different fingerprint recognition algorithms. The experimental results show that the reconstructed images are very realistic and that, although it is unlikely that they can fool a human expert, there is a high chance to deceive state-of-the-art commercial fingerprint recognition systems.